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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: brk who wrote (1980)9/19/1999 10:46:00 PM
From: gizelle otero  Read Replies (1) of 15615
 
It's not too late to buy fro to benefit from its discount as a gblx proxy, but the spread is narrowing as the merger approaches. Although, imo, the delisting of fro from spx is already written into the gblx price, the gblx post-merger buyback may not be so well known. In my book, this is going to be at least a triple within 12 months on the common alone, and because the gblx calls are still reflecting the common's negative action as a result of the arbs, I see the potential for very lucrative profits by going long some gblx calls for a little additional leverage. TA on Clearstation shows gblx an early buying opportunity, so those who have a little stronger stomach may well want to take substantial long positions before the inevitable "green light" flicks on. I generally don't mind giving the other person the first couple of points, but for this one, I've stuck my neck out early. Loaded to the gills, not margined, rating short and long term strong buy.
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